'Global Carbon Fibre Reinforced Plastic (CFRP) Composites Market to be Worth $20.68bn in 2013' says Visiongain Report

'Global Carbon Fibre Reinforced Plastic (CFRP) Composites Market to be Worth $20.68bn in 2013' says Visiongain Report PR Newswire LONDON, December 10, 2012 LONDON, December 10, 2012 /PRNewswire/ -- Visiongain's latest analysis indicates that the global CFRP composites market will reach a value of $20.68bn in 2013, and will be driven by growth in the wind energy market, and strong potential in the automotives market. The CFRP composites market will exhibit growth over the next decade, and this will partly be due to the increasing prominence of the emerging markets. Stronger economic growth and clear immaturity in the CFRP markets means that growth rates are expected to be greatest in these regions. The immaturity and cheaper labour costs of the emerging markets are also expected to attract a number of multinationals from the developed markets. The visiongain author of the Global Carbon Fibre Reinforced Plastics (CFRP) Composites Market 2013-2023 report commented that "The use of CFRP in the composites market has shown strong growth over the past few years. Still a relatively immature market, the material has been able to penetrate a number of important sectors. Despite the economic turmoil that has transpired in recent years, the growth of CFRP has remained steady and this is partly due to the change in consumer and supplier preferences that have occurred as a result of the economic crisis. With that said, the effects of the economic crisis have still been damaging.